Consult America Decides Credit Card Modification is New Name for Debt Settlement

Companies have been scrambling to get away from the term debt settlement in an effort to try and claim the services they offer are nothing like the bad debt settlement companies that charged huge advance fees.

Consult America is one such company apparently. A tipster (send in your tips here) sent me a copies of an emails they received from Consult America that now refers to their debt settlement service by a new name, credit card modification. Other references called it debt restructuring. In fact it looks like they call their debt negotiation process everything else except debt settlement as they used to say.

In research the readers statements I went back to an older copy of the Consult America website and it looks like all they did was remove the term debt settlement, in almost every place. They did however miss a few.

Screen Shot 2013-04-22 at 5.13.59 PM

And their description of reducing the debt owed sure sounds like debt settlement to me. How about you?

From now on these will be called horses.
From now on these will be called horses.

The sales representative described their unique process and negotiating new terms to create a new payment plan that is affordable.

Why is Consult America so afraid to use the term debt settlement? In fact they still use it on their FAQ page.

Q: What’s the difference between a debt settlement program and a debt resolution program?
A: With both programs your debts are negotiated for less than what you owe and combining your debt together giving you one monthly program payment. Settlements are based on your ability to save sufficient funds to negotiate with creditors to substantially lower the amount you owe. The main differences between the two programs are with our debt resolution program, you are retaining full legal representation with a licensed attorney in your state. – Source


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Damon Day - Pro Debt Coach

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Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
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2 thoughts on “Consult America Decides Credit Card Modification is New Name for Debt Settlement”

  1. Tis but thy name that is my enemy;
    Thou art thyself, O, be some other name!
    What’s in a name? that which we call a rose
    By any other name would stink as bad;

    Juliet (with liberties)

  2. So, basically the consumer is paying these people to hook them up with an attorney in their state? So what is this company actually doing to settle a debt for the consumer? Charging a finders feel?

    I wish people would just realize there is NO settlement amount that a company or an attorney can get that the customer can’t get for themselves. Seriously. They can do it for themselves for free.


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